by Bill Bonner
The Daily Reckoning
Have yourself a merry little depression…
What’s this? Christine Lagarde, IMF chief, said last week that the world’s nations needed to work together to avoid a 1930s-style depression.
But seeing the way they work together…and where they seem to be headed…we’d prefer a depression.
The idea of the world’s authorities is not to solve the debt problem, but to make it larger. One bank goes bust; they get a bigger bank – a central bank – to bail it out. One country goes broke; they get a bigger country to bail it out.
The US bailed out its financial sector. Europe has
